Photo by Simon Paulin

It is worth mentioning that the Swedish capital is second only to Silicon Valley in the US when it comes to the number of “unicorns” – billion-dollar tech companies – that it produces per capita.

Europe’s tech start-up capital

The list also included other Scandinavian countries such as Denmark and Finland, which is great evidence that the region overall is moving towards a more innovative future in many aspects, and Sweden is becoming Europe's start-up capital. South Korea was ranked first, Singapore third, in addition to a number of other European countries published by Bloomberg.

The study was conducted covering everything from the concentration of tech companies to the number of sciences and engineering graduates. Bloomberg based its results on data from sources including the World Bank, IMF and OECD.